Is Terra Tech Corp (OTCMKTS:TRTC) Finally Ready to Come Back From the...

Is Terra Tech Corp (OTCMKTS:TRTC) Finally Ready to Come Back From the Dead?

SHARE

One burning question that occupies the minds of OTC cannabis patch traders is whether or not the downward spiral of underperformance in Terra Tech Corp (OTCMKTS:TRTC) has finally been played out, creating a potentially interesting deep value opportunity. To further flesh out the narrative, the company just announced it has completed the renovation of its cultivation facility located on West Grand Avenue, Oakland, in California.

According to the release, “One of the goals of the facility will be to research and develop various cultivation techniques to optimize efficiencies and crop yields. Planting of new crops is expected to commence later this week and all cannabis cultivated at the facility will be sold under the Company’s premium IVXX™ brand to California’s medical and adult-use markets. The newly renovated facility features an upgraded power capacity to allow for more output and a larger vegetation room to support the cultivation of a greater variety of cannabis strains. The rooms are redesigned to incorporate better environmental controls, therefore improving the Company’s ability to cool and dehumidify the rooms and minimize the risk of mold growth. The facility is equipped with a total of 112 high pressure sodium light bulbs (28 bulbs per room) capable of flowering 1,120 pounds of cannabis a year. It also has 18 LED flowering lights that allow for more efficient and environmentally sustainable cultivation. After perfecting the LED lights growing style, Terra Tech aims to convert the facility to 100% LED flowering lights.”

Terra Tech Corp (OTCMKTS:TRTC) has positioned itself in the cannabis space as a company that engages in the design, marketing, and sale of hydroponic equipment with proprietary technology to create sustainable solutions for the cultivation of indoor agriculture in Newport Beach and Irvine, California.

TRTC operates through two segments, Hydroponic Produce and Cannabis Products. The company offers environmental controllers and timers; ballasts; bulbs; reflectors; nutrients; and portable hydroponic trailers and The Big Bud and Little Bud, which are custom fabricated proprietary cultivation systems for horticulture enthusiasts, local urban farmers, and greenhouse growers

Additionally, TRTC operates as a retail seller of hydroponic produce, herbs, and floral products, which are distributed in the Midwest and the Northeast United States; and produces and sells a line of cannabis flowers and cigarettes, as well as a line of cannabis pure concentrates, including oils, waxes, shatters, and clears to dispensaries in California.

The company operates through multiple subsidiary businesses, including Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.

Blum’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations.

Find out when $TRTC reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, TRTC just announced it has completed the renovation of its cultivation facility located on West Grand Avenue, Oakland, in California.

Recent action has seen 26% during the past week in terms of shareholder gains in the listing. What’s more, the stock has benefitted from a jump in recent trading volume to the tune of 89% beyond its prior sustained average level.

Derek Peterson, Chief Executive Officer, said, “The renovation and upgrade of our cultivation facility in Oakland, California, which is located next to our Blüm, Oakland dispensary, provides expanded capacity to support sales growth of our IVXX™ cannabis products in California. This state-of-the-art cultivation facility is designed to enable us to cultivate a greater variety of cannabis strains and explore various growing styles in order to create high quality products at maximum efficiency, to make us more profitable growers.”

Now commanding a market cap of $84.55M, TRTC has a significant war chest ($3.4M) of cash on the books, which must be weighed relative to about $7.7M in total current liabilities. TRTC is pulling in trailing 12-month revenues of $35.4M. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -30%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $TRTC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $TRTC, either long or short, and we have not been compensated for this article.

Sign Up for our 100% FREE Oracle Dispatch Newsletter